Chinese New Year Recycling Stagnation Leads to Tight Raw Material Supply, Post-Holiday Lead Market Driven by Supply-Demand Balance to Stabilize and Rise [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

SMM February 27th:

Affected by the Chinese New Year, the scrap battery market saw workshops and recyclers shut down for the holiday, with market transactions basically coming to a halt. Smelters mainly consumed their existing raw material inventory. After the holiday, raw material inventory quickly ran short, and smelters' concentrated release of procurement demand provided significant support to scrap battery prices, leading to a stable to upward trend.

In the secondary crude lead market, the number of smelters that resumed operation was limited, and enterprise ex-works quotations remained firm, with mainstream prices around 15,450 yuan/mt ex-works excluding tax. Imported secondary crude lead resumed shipments to China, with cargoes arriving at ports gradually, mostly consisting of orders concluded before the holiday. Port self pick-up prices were referenced to the SMM #1 lead average price minus 300 yuan/mt.

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